Bull Trend Analysis Feed http://www.bull-trend.com Bull-trend.com was designed for traders like yourself. We strive to be your number-one resource for timely, accurate and useful forex, futures and commodity quotes, charts, technical opinion, trading analysis and other market commentary. CFM 263 94 http://www.bull-trend.com http://www.bull-trend.com/bk2/img/flogo.jpg Fitch affirms Turkey at 'BB+'; outlook stable - Reuters http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 20:45:09 -0400 Fitch Ratings affirmed Turkey's credit note at BB+ and said that the outlook was stable. Key highlights (via Reuters) Issue ratings on Turkey's senior unsecured foreign-currency bonds have also been affirmed at 'BB+' Ratings balance high external financing vulnerabilities, pronounced political and geopolitical risks and high levels of inflation Turkey's structural indicators are generally superior to peers Political and geopolitical risks weigh on Turkey's ratings Stimulus measures will weaken fiscal performance in 2017 of Turkey Contingent liabilities are rising, but from a low base & unlikely to have a material impact on govt finances over forecast period Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Bitcoin eases off monthly highs, still up $700 on the week http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 20:36:32 -0400 After the Bitcoin development community avoided a potential crisis by accepting the SegWit2x upgrade, which is supposed to increase the digital currency network’s transaction capacity, before the July 31 deadline, the BTC gained nearly $700 on Thursday, pushing the BTC/USD pair close to its record high of $2,999 that was set on June 11.  “We’re going to see greater utility of the network. Now people can use bitcoin as a way to transit value more easily, more quickly, more cheaply. And that tends to attract in new users to the network," Adam White, head of cryptocurrency exchange GDAX, told Bloomberg.  Although the pair retraced part of its gains from yesterday, most likely via profit taking, it's still looking to record its biggest weekly gain since its record setting rally.  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Wall Street ends the week on a negative note http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 20:35:55 -0400 Major equity indexes eased lower in the last session of the week as falling crude oil prices weighed on energy shares. Furthermore, the political developments in the U.S. hurt the market sentiment, pushing the investors towards safer assets like the yen, gold and U.S. Treasuries rather than stocks. Both the S&P 500 and NYSE Energy Sector indexes lost more than 1% as crude oil's rally came to an end on Friday with the barrel of West Texas Intermediate losing nearly 3% on the day to settle below the $46 mark. In the meantime, after recording gains for ten straight sessions to close the day at a record high, the tech sector finally cooled down with the S&P 500 Information Technology (SPLRCT) finishing the day 0.17% lower. “The market is pausing after another stellar run to record high levels, as people take modest profits off the table and cut back on risk just a little bit going into the weekend,” Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas, told Reuters. The Dow Jones Industrial Average lost 31.71 points, or 0.15%, to 21,580.07, the S&P 500 dropped 2 points, or 0.08%, to 2,469.25 and the Nasdaq Composite fell 2.25 points, or 0.04%, to 6,387.75. Headlines from the U.S. session: WTI settles below $46 ahead of OPEC, non-OPEC meeting US 2Q GDP preview: Stronger than Q1 - Wells Fargo US: Sarah Sanders to be appointed as new White House press secretary What has changed in EM - BBH Sean Spicer resigns as White House Press Secretary - NYT NY Fed: GDP Nowcast stands at 2.0% for 2017:Q2 and 2.0% for 2017:Q3 US Dollar extends losses, hits new 13-month low below 94 Moscow lawyer who met Trump Jr. had Russian spy agency as client - Reuters Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. EZ PMI: No major change expected - Wells Fargo http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 19:41:33 -0400 On Monday, the key report will be Eurozone PMI. According to analysts from Wells Fargo, the index is expected to show no major change, so they warn that any change could be market moving.  Key Quotes:  “ECB President Draghi made reference this week to the “robust recovery” going on in the Eurozone. For financial markets that were expecting dovish undertones out the ECB, the more neutral assessment of the Eurozone’s economy spooked the stock market.” “When bourses open on Monday of next week in Europe, investors will get the pulse of business activity for July when the preliminary survey results for manufacturing and services. While the PMIs have been in expansion territory for the past four years, only recently have they broken north of 55. This represents the fastest pace of expansion since the relief rally in 2011, which followed the European sovereign debt crisis of a year earlier.” “In the latest print, the manufacturing PMI rose while the service sector gave up some ground. No major change is expected, which suggests any change we do get could be market moving.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. WTI settles below $46 ahead of OPEC, non-OPEC meeting http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 19:18:47 -0400 Crude oil prices spent the last day of the week under pressure, pushing the barrel of West Texas Intermediate to a fresh weekly low below the $46 handle. As of writing, the barrel of WTI is trading at $45.60, losing $1.3, or 2.75%, on the day. On the back of the weakening greenback and decreasing crude oil inventories in the U.S., the barrel of WTI was able to reach its 2-week peak at $47.55 on Thursday. However, with today's drop, it's headed for a negative weekly close as the rally couldn't sustain its momentum. Today's data from the United States showed that oil rig count in the U.S., released by Baker Hughes, dropped to 764 from 765 in the previous week. However, investors remain hesitant to take advantage of the cool down seen in the U.S. oil production since OPEC nations started to go over their previously agreed quotas in June. According to a recent report by Reuters, Kuwait's oil minister announced that oil ministers of OPEC and non-OPEC producers will be meeting in Saint Petersburg in Russia on July 22 to assess the compliance with the recent output cut resolution. Technical outlook $47.55 (Jul. 20 high) could be seen as the initial resistance for the barrel of WTI ahead of $48.20 (Jul. 6 high) and $50 (psychological level). On the downside, supports align at $45 (psychological level/Jul. 13 low), $44.05 (Jun. 19 low) and $42.75 (Jun. 20 low).    Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Oil ministers of OPEC and non-OPEC producers to meet in Russia tomorrow - Reuters http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 19:13:48 -0400 Kuwait's oil minister on Friday said that oil ministers of OPEC and non-OPEC producers are set to meet in Saint Petersburg in Russia tomorrow to assess conformity with a recent output cut resolution, as reported by Reuters. Key takeaways: They will look into a report of the Joint OPEC-Non-OPEC Technical Committee (JTC), a technical sub-committee of the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC), on the compliance of OPEC and non-OPEC members with output cut levels for June 2017 The committee will also review during the meeting an OPEC report on the situation of the global oil market in June, in addition to more relevant suggestions by member states, added Al-Marzouq, who doubles as Minister of Electricity and Water. At the end of the meeting, the JTC will send a report to member states on the outcomes of Saint Petersburg meeting, mainly proposals and recommendations. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. GBP/CHF: the worst of the week, down more than 350 pips http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 19:09:05 -0400 A stronger Swiss franc, that near the end of the week keeps reaching new highs, pushed GBP/CHF further to the downside on Friday. The pair was already deep in negative territory for the week. The pound lost 2.8% during the week against the Swiss, the worst week since September 2016.  Between the ECB and BoE  The Swiss franc extended gains after the European Central Bank meeting. Draghi boosted the euro, the Swisy, like usually does, followed it. EUR/CHF reached multi-month highs but found a strong resistance around 1.1050. On the other side, EUR/GBP broke relevant resistance levels and today moved closer to 0.8900. The rally of the pair contributed to weakening the pound.  UK data failed to boost expectations for a rate hike from the Bank of England. Earlier during the week, UK CPI data (2.6% y/y against 2.9%) pushed the pound sharply to the downside. On Thursday an upbeat report on retail sales, offered support just for a few minutes to the currency, that continued to slide.  With Brexit negotiations starting surrounded by political uncertainty and negative real wage growth, many analysts point out, that is hard to see a rate hike from the BoE coming.  UK CPI eases to 2.6% y/y in June, misses expectations UK retail sales rebound sharply in June, a Big beat on expectations BoE: threat of a rate hike reduced - ING GBP/CHF collapse  The pair opened on Monday near 2-week highs, above 1.2600. Then it started the sharp reversal. It dropped constantly during all week. Recently bottomed at 1.2267, the lowest in four weeks. The pair is near the 1.2250 area, that is a key support, that capped the decline several times in March and also in June. A break lower would put 2017 lows on the radar (1.2100/10).  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. US 2Q GDP preview: Stronger than Q1 - Wells Fargo http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 18:34:18 -0400 Analysts from Wells Fargo, expect a 2.2% Q2 GDP growth. The report will be released next Friday. It will be the first reading.  Key Quotes:  “Our call for Q2 GDP growth is 2.2 percent, as our expectations remain more muted than the consensus forecast. We continue to expect a stronger print than the first quarter, particularly for the personal consumption component, which we expect will increase 3.3 percent in Q2 after a paltry 1.1 percent in Q1. Our call has a lift from both residential and business fixed investment in Q2, albeit smaller than that of Q1. We also expect the change in inventory investment to add to growth in Q2 after a large contraction in Q1, while net exports also reverses direction, cutting into Q2 growth.” “We see little reason to expect economic growth to ramp up significantly through the end of the year, and remain confident real GDP will grow between 2.0-2.5 percent in 2017. Without a major ramp up in productivity growth, the U.S. economy is unlikely to stray from its current course.”<br />   Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. US: Sarah Sanders to be appointed as new White House press secretary http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 18:32:49 -0400 During today's press conference, U.S. President Donald Trump's new communication director Anthony Scaramucci announced that Sarah Sanders would be appointed as the new press secretary. Before the press conference, Trump in a statement said that he was grateful for Spicer's work and praised his television ratings. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. AUD/NZD Bulls are losing momentum http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 18:10:22 -0400 AUD/NZD sellers stood their ground and buyers retreated in recent sessions as MACD (26, 12, 9) has fallen off below its median line.<br /><br />On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions. <br /><br />The fact that the MACD hasn't been under zero for at least one week of trading, reinforces the argument that room for further AUD/NZD depreciation is there. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. EUR/USD continues to rise, hits fresh highs near 1.1700 http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 18:07:15 -0400 EUR/USD reached fresh highs during the American session. The pair rebounded from 1.1630 and slowly climbed to 1.1682, setting a new 2017 high. It remains near the top, consolidating important weekly gains and headed toward the highest daily close since January 2015.  A weak US dollar is the main driver of today’s EUR/USD upside move. The greenback is again suffering from a recovery in US bonds. The 10-year yield dropped to 2.225%, the lowest since June 29.  US Dollar extends losses, hits new 13-month low below 94 Levels to watch  EUR/USD is consolidating above the 1.1500 handle. From a technical perspective represents the break of a 2-year range between 1.0400 and 1.1500, that could open the doors to a rise in the medium term.  According to Valeria Bednarik, Chief Analysts at Bakinv, above 1.1680 resistance levels might be located at 1.1715 and 1.1745, while on the flip side, she places support area around 1.1615, 1.1570 and 1.1530.  “With the help of ECB, EUR surmounted this level without much difficulty and the focus has shifted to the Aug 2015 high of 1.1710”, said analysts at UOB Group.  EUR/USD bullish, set sales for 1.1710 – UOB<br />   Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. EUR/USD posts 52 week high http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 18:06:33 -0400 EUR/USD has posted a fresh 52-week high.<br /><br />EUR/USD is trading at it highest level in 52 weeks, having pierced the psychological barrier on an intraday basis. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. AUD/USD exhibits a potential 52-week high http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 18:04:04 -0400 The AUD/USD has been nibbling at the 52-week high today, having pierced that performance metric on an intraday basis.<br/> Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. USD/CHF headed for first weekly close below 0.95 since Aug. 2015 http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 17:16:41 -0400 The USD/CHF pair recently refreshed its lowest level in more than 14 months at 0.9455 as the greenback selling interest remains unabated in the last session of the week. At the moment, the pair is trading at 0.9458, losing 0.6% on the day. The never ending political drama in the United States doesn't allow the greenback to heave a sigh of relief on Friday with the US Dollar Index struggling to make even a modest recovery following two days of heavy losses. As of writing, the index is at 93.78, the 13-month low, losing 0.33% on the day.  After the resignation of U.S. President Donald Trump's outside legal team spokesman, Mark Corallo; Sean Spicer, the White House press secretary, also announced that he was quitting his position on Friday after Donald Trump appointed Anthony Scaramucci as communications director, which Spicer thought was a major mistake.  Sean Spicer resigns as White House Press Secretary - NYT In addition to the USD weakness, the CHF is finding some extra demand on Friday as major equity indexes in the U.S. stay in the negative territory after starting the day lower, putting more pressure on the pair.  Technical outlook If the pair fails to recover above 0.95 by the time the markets wrap up the week, it's going to record its lowest weekly close in nearly 23 months. In the meantime, with today's retreat, the RSI on the daily graph fell into the oversold area, suggesting that a technical recovery could be witnessed before the pair continues its downfall. The initial support could be seen at 0.9440 (May 3, 2016, low) followed by 0.9400 (psychological level) and 0.9315 (Aug. 25, 2015, low). On the upside, 0.9520 (daily high) is the first hurdle ahead of 0.9600 (20-DMA) and 0.9700 (psychological level/Jul. 14 high). USD/CHF: Strong downside potential - Natixis Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. United States Baker Hughes US Oil Rig Count fell from previous 765 to 764 http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 17:02:15 -0400 Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. What has changed in EM - BBH http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 16:37:13 -0400 Marc Chandler, Global Head of Currency Strategy at Brown Brothers, shares his views on the emerging markets with the key quotes found below: "South Korea proposed resuming military and humanitarian exchanges with North Korea.  President Moon Jae-in promised a different approach to North-South relations from the hardline approach taken by his predecessor Park Geun-eh.  The announcement came after North Korea signaled a willingness to engage.  Moon has already suspended the controversial missile shield, so we may see some further thawing of relations." "The European Union may sanction Poland over its controversial judicial overhaul.  The European Commission confirmed it is close to starting a procedure that could eventually lead to a loss of Poland’s EU voting rights under Article 7 of the EU treaty.  The judicial revamp would force all Supreme Court judges to retire and would give the government more say over new picks for the judiciary." "Turkish Prime Minister Yildirim announced a cabinet shuffle after meeting with President Erdogan.  Mehmet Simsek, who has responsibility for economic issues, was the only Deputy Prime Minister to keep his position.  As such, we see little in the way of policy implications as Erdogan is still calling the shots."   "Turkey’s worsening relations with Germany will come with economic costs.  The latest flare-up comes after Turkey arrested a German human rights activist for being part of a terrorist organization.  German Foreign Minister Gabriel announced a “re-orientation” of German policy toward Turkey and warned German companies against doing business there and issued revised guidelines for travelers.  German business groups warned of a “significant drop” in sales to Turkey." "South African Reserve Bank surprised markets by starting the easing cycle with a 25 bp cut to 7.0%.  No change was expected.  This is its first rate cut since July 2012.  Now that the door has been opened, further cuts are likely at the September 21 and November 23 meetings." "Brazil will raise fuel taxes and freeze spending in an effort to meet its fiscal targets.  The government expects to raise BRL10.4 bln ($3.3 bln) from the fuel tax, and plans to freeze spending by BRL5.9 bln.   Extraordinary measures are needed as the recovery continues to lag expectations." "S&P raised the outlook on Mexico’s BBB+ rating from negative to stable.  The agency said that it doesn’t expect significant worsening of the country’s debt load.  It noted that “We believe that the prompt reaction of Mexican government authorities to recent negative shocks, such as the depreciation of the currency in late 2016, will diminish the recently rapid pace of debt accumulation and help stabilize the government’s debt burden.”   Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Sandamp;P: Rating on Greece is B-; sovereign credit outlook revised to positive from stable http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 16:26:17 -0400 Standard & Poor's recently published its ratings for Greece; with the key quotes, via Reuters, found below: Rating on Greece is B-; sovereign credit outlook revised to positive from stable Outlook on Greece ratings revised to positive; 'B-' long-term ratings affirmed‍ Positive outlook indicates view that, over next 12 months, there is at least a one-in-three probability that could raise ratings Outlook revision reflects expectation that Greece's general government debt and debt servicing costs will gradually decline Recovering economic growth, legislated fiscal reforms, further debt relief, should enable Greece to reduce general government debt-to-GDP ratio through 2020 Recovering economic growth, legislated fiscal reforms, further debt relief, should enable Greece to also reduce debt servicing costs through 2020 Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Sean Spicer resigns as White House Press Secretary - NYT http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 16:04:34 -0400 "Sean Spicer, the White House press secretary, resigned on Friday morning, telling President Trump he vehemently disagreed with the appointment of the New York financier Anthony Scaramucci as communications director," New York Times said. Key quotes: Mr. Trump offered Mr. Scaramucci the job at 10 a.m.  Mr. Spicer told Mr. Trump that he believed the appointment was a major mistake Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. NY Fed: GDP Nowcast stands at 2.0% for 2017:Q2 and 2.0% for 2017:Q3 http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 16:01:14 -0400 "The New York Fed Staff Nowcast stands at 2.0% for 2017:Q2 and 2.0% for 2017:Q3," the Federal Reserve Bank of New York said on Friday. Key quotes: News from this week’s data releases increased the nowcast slightly for both quarters. Positive surprises from housing data were only partially offset by negative surprises from manufacturing surveys in the third quarter. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. USD/CAD printed fresh 1-year low despite risk aversion and crude oil price http://www.bull-trend.com/ Currencies http://www.bull-trend.com/ Fri, 21 Jul 2017 16:00:08 -0400 The Canadian dollar is among the top performers on Friday. The loonie remains strong, unaffected by mixed data from Canada and neither by a decline in crude oil price.  CAD Unstoppable  USD/CAD broke below 1.2539 (Jul 20 low) and fell to 1.2520, hitting a fresh 1-year low. The pair moved closer to the 2016 low (1.2460).  At the moment, it trades at 1.2530/35, with the bearish bias (short and long term) intact. The pair is falling for the fourth day in a row the seventh time out of the last eight trading days. Since the beginning of the month dropped more than 400 pips. USD/CAD is about to post the lowest weekly close since June 2015.  Earlier today, CPI and retail sales data from Canada boosted the pair. The CPI index dropped 0.1% June and the annual rate stood at 1.0%. Retail sales rose 0.6% in May, above the 0.4% expected. The loonie received an impulse from the numbers. According to analysts from ING, the temporary inflation lull is no barrier for more rate hikes from the Bank of Canada.   Canada: Retail sales increased for third consecutive month, rising 0.6% to $48.9 billion in May Canada: CPI rose 1.0% on a year-over-year basis in June, following a 1.3% gain in May Canada: ‘Temporary’ inflation lull no barrier for the BoC - ING The downside in the pair continues despite the fact that crude oil prices are falling on Friday. The WTI barrel is down 0.83%. Also, risk aversion is doing nothing to stop the slide of USD/CAD. The Dow Jones is falling 0.31% and the Nasdaq drops 0.21%.  The bearish momentum continues to be elevated, offsetting oversold conditions of some technical indicators. The pair is about on its way to the fourth weekly decline in a row.  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Bakinv does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.